My shove into the world of taxation didn’t come after a quaint summer job as an awkward teen. Instead, I learned about taxes as a four-year-old girl on Halloween night.
Are you among the many Americans who file your taxes early so you can get your refund sooner? If you claim the Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC) and expect to receive a refund, you’ll have to wait until after mid-February to get it.
The Internal Revenue Service (IRS) offers many deductions and credits that benefit parents and other taxpayers who claim dependents. To take advantage of these tax breaks, here are seven tax filing tips you need to know.
While your children are young you have plenty of expenses. Fortunately, some of those expenses can directly or indirectly turn into deductions, exemptions or credits that may mean big savings on your tax bill. Take a look at the following tax benefits to see which ones could be beneficial for you.
Hoping to live on one income while you or your spouse stays home with the kid(s)? This used to be commonplace but now many households include two working parents. Interestingly though, stay-at-home parenting is no longer mainly women’s work. The number of American fathers who do not work outside the home reached 2 million in […]
If you pay someone to come to your house and take care of your children, you may wonder if you need to pay the “nanny tax.” Many household workers expect to be paid in cash, either because they are unbanked or don’t want to have taxes withheld. Who will know if you avoid all that […]
Do you dread income tax time every year? Well if there is one thing to remember during income tax time, to maybe ease the process, remember this: Three out of four taxpayers receive a federal refund, and the average direct-deposited refund last year was $3,116. Pretty nice tax refund don’t you think? Tax savings opportunities […]